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Junior Ngulube-Sanlam emerging markets CEO after receiving the award-UPESINEWS
BY EURIDICE NZIOKA,NAIROBI, 16TH JUNE,2017-The largest non-bank financial services provider in sub-Sahara Africa, has confirmed plans to adopt an organic growth strategy to further accelerate its growth.
Fresh from winning the Insurance Company of the Year award at the 3rd annual Africa Reinsurance Corporation (Africa-Re) Awards ceremony, Sanlam Emerging Markets (SEM) has announced that the firm is now training its corporate focus on organic growth opportunities across the sub-Saharan market.
Speaking when he received the award in Kampala, Uganda, SEM CEO, Mr. Junior Ngulube noted that, although structural growth remains an important bottom-line contributor the firm is now aiming to adopt organic market prospects as its main growth driver.
“SEM’s broad strategy, which has remained the same over the years, has proven its worth. We’ll continue on this path, although we’re gradually shifting our focus even more towards organic growth as opposed to structural growth,” Ngulube said and added that, “Although structural growth remains an important contributor, our aim is for organic growth to become SEM’s main driver going forward,’ added Ngulube.
While dedicating the award to SEM’s clients, partners and staff in Kenya, Uganda and Tanzania among other sub-Sahara markets, Ngulube said the award, highlights SEM’s strategic excellence as well as the great value the firm places on its clients and staff by maintaining meaningful partnerships and appreciating cultural differences within its our widely diverse markets.
On his part, Sanlam Kenya Group CEO, Mugo Kibati while celebrating the award noted that increasing Kenyans’ awareness of financial risks and opportunities offered by non-bank financial products will help drive the growth of the sector and the wider economy.
Mr. Kibati noted that insurance penetration is still very low in Kenya and this remains a matter of concern for the industry.
“This is an industry-wide problem but we can increase penetration by building trust in the industry and demonstrating the central role insurance plays in development,” he said, adding that, “Protection of life and property should be a top priority for all. To tackle the apathy, we need to continuously conduct vigorous education campaigns to reach more people across the board.”